Conclusion

Abstract

The first volume of Islamic Marketing covers the economic, socio-cultural and political-legal dimensions of doing business on Islamic markets. The outcome of the analysis is that there is huge potential for launching new products and services. The purchasing power and the overall Muslim population increase steadily (more than other populations on earth), the resistance to change is rather weak and Western products and concepts are extremely popular (especially in entertainment and fashion) and there are few political and legal barriers in entering these countries. At the same time, the Muslim world is aware of its potential and tries to decrease its dependency on Western companies by promoting its own champions in Islamic finance, halal food, fashion or music. The time is over of a Western undisputed domination and Islamic markets will become a terrain of fierce battles between foreign and domestic companies as it is happening in other parts of the world. Because of competition, marketing will be a differentiating factor for all different businesses we will cover in the second volume of Islamic Marketing.